When starting
a business, Cuban said every entrepreneur needs to know that
it's not so much about having a killer idea as it is about being
completely prepared to take a product or service to market.
"Everyone has ideas, most don't do the work required to get the
job done," he wrote.

Another thing aspiring business owners need to keep in mind:
Sales are the most important aspect of a small business, Cuban
wrote. "No sales, no company."

Below, a sampling of Cuban's points that were related to business
and entrepreneurialism.

On finding motivation as an entrepreneur:
I daydreamed for motivation. I didn't lie to myself and talk
about my passions and how if I was passionate enough about
something I could be successful at it.

I was lucky. I grew up knowing that hard work and smart work has
a greater impact on results than being passionate about
something.

On needing a master's degree in business administration
to be good at business:
I think an MBA is an absolute waste of money. If you have a hole
in your knowledge base, there is a ton of online courses you can
take. I don't give any advantage to someone in hiring because
they have an MBA.

On funding tech startups:
There is a HUGE bubble in the Valley for tech startups. The
valuations have gotten out of hand. When valuations go up beyond
the reality point, the funding goes down.

It's almost become like the movie business was 10 years ago.
There was so much dumb money coming in and so few actually making
money that the suckers finally wised up.

On how many of Shark Tank deals wind up getting
modified or canceled:
We get the chance to do due diligence after the show. As a result
you uncover things that were not brought up in the show, so it's
not unusual for a deal to fall through in the DD phase. I have
had things like people who never paid their taxes, people who
lied on the show, people who didn't think that if they spent
money on their personal credit cards it should be considered an
expense. You name it.

There is so much pressure on the entrepreneur during the show
that sometimes they say what they think we want to hear rather
than the truth. The DD helps us separate the two.

On the most ridiculous thing pitched on Shark
Tank:
The ion watch deal was pretty much it. You
can't come on expecting to scam us. We will nail you.

On Shark Tank being scripted:Shark Tank is not scripted at all. When the entrepreneur
walks into the shark tank the ONLY thing we know is their first
name. NOTHING else.

The only "scripted" part of the show is this. . . the producers
tell us before every show. . . if an entrepreneur looks like they
are going to cry, shut up and let them. They love tears. That's
the only scripting.